Long Play Updates
ACADIA - ACAD - close: 9.27 chg: +0.42 stop: 8.39 *new*
ACAD displayed plenty of relative strength on Monday with a 4.7% gain. We did not see any specific news fueling the move but we're not complaining. Shares now look poised to challenge and hopefully breakout past its exponential 200-dma near $9.45. We remain bullish and we're adjusting our stop loss to $8.39. Our target is the $9.95-10.00 range. FYI: The P&F chart remains bearish and looks like it will be for a while.
Picked on October 05 at $ 8.85
TD Ameritrade - AMTD - close: 19.13 change: -0.07 stop: 18.23
AMTD tried to bounce on Monday but the stock rolled over under the $19.50 level. This show of weakness may be a sign of trouble. Thus far the stock is still holding onto its bullish pattern of higher lows and it's still holding above its 200-dma but the momentum indicators are hinting at trouble given today's trading. We remain bullish but traders might want to tighten their stops. Our target is the $21.00 mark. We do expect some resistance near $20.00, at least on the initial test. We don't want to hold over the October 24th earnings report. FYI: The P&F chart is bullish with a $29 target.
Picked on October 04 at $19.26
Anheuser-Busch - BUD - close: 46.99 change: -0.09 stop: 46.85
We are still sitting on the sidelines with BUD. We're waiting for the stock to breakout through the top of its trading range near the $48.00 level. Our trigger is at $48.21. If triggered our target is the $49.90-51.00 range.
Picked on October xx at $xx.xx <-- see TRIGGER
IAC/InterActive - IACI - close: 29.45 change: -0.20 stop: 28.69
IACI traded flat to down on Monday. The stock looks poised to move towards the $29 level and its 10-dma. Wait and watch for a bounce near the $29.00 region as a new entry point to go long. Normally we would expect resistance at the $30.00 level but if you look at the stock's weekly chart you can see that the line of resistance is about $31.50. We're setting a target in the $31.40-31.50 range. We do not want to hold over the late October earnings report.
Picked on October 04 at $29.73
Intl. Game Tech. - IGT - close: 42.75 chg: +0.42 stop: 39.95
IGT is still showing relative strength. The stock added almost 1% to set a new multi-year closing high. IGT looks poised to breakout over short-term resistance at the $43.00 level. Our target is the $44.00-45.00 range. We do not want to hold over the early November earnings report.
Picked on September 17 at $40.26
Ingersoll-Rand - IR - close: 40.23 chg: +0.03 stop: 37.99
We do not see any changes from our weekend comments on IR. The stock continues to look bullish. We do not want to hold over the October 27th earnings report so our short-term target is the $43.00-43.50 range. We'll raise our stop loss once we see IR push past potential overhead resistance at its 200-dma near 40.75.
Picked on October 08 at $40.20
Kinetic Concepts - KCI - cls: 32.88 chg: -0.47 stop: 30.99
KCI spent Monday's session consolidating sideways. If you are the optimistic type then it was encouraging to see traders buying the dips near $32.80 all day long. Traders still have a choice to go long here or wait for a potential dip back towards the $32.00 region. We don't see any changes from our weekend comments on KCI. We think KCI can trade toward the late May lows, which as broken support will probably act as resistance and this area also coincides with the 200-dma. We'll set a target in the $37.50-38.00 range. Be advised that the $35.00 mark might offer some resistance as well at least on the initial test of that level. We do not want to hold over the late October earnings report.
Picked on October 08 at $33.35
Acc. Home Lenders - LEND - cls: 36.88 chg: +0.35 stop: 34.95
The rally in LEND looks ready to launch. Traders bought the intraday dip near the $36.00 level this morning and LEND was creeping closer toward resistance at the $37 level all afternoon. More aggressive traders may want to open positions right here. We want to see the breakout occur. That's why we're suggesting a trigger to go long at $37.16. If triggered our target is the $42.00-42.50 range. Please note that there is potential resistance at the bottom of its gap down at $38.71, and potential resistance at $40.00. The P&F chart is positive with a $50 target. We do not want to hold over the late October earnings report.
Picked on October xx at $xx.xx <-- see TRIGGER
McAfee - MFE - close: 25.54 chg: +0.04 stop: 23.99
The GSO software index closed with a minor loss on Monday and this relative weakness in the sector might have slowed the rally in MFE today. Shares rallied toward the $26 level but gave back almost all of its gains. We remain bullish. Our target is the $27.25-27.50 range. We do not want to hold over the late October earnings report.
Picked on October 05 at $25.20
PDL BioPharma - PDLI - close: 20.45 chg: +0.27 stop: 18.69
PDLI continues to help lead the rally in biotech stocks. The BTK biotech index added 0.7% while PDLI rose another 1.33% following last week's breakout over resistance at the $20.00 mark. We remain optimistic and would continue to open new long positions with PDLI above $20.00 or maybe on a bounce from the $20.00 or $19.50 levels. More conservative traders might want to consider tightening their stop loss. Our target is the $22.25-22.50 range. We do not want to hold over the early November earnings report.
Picked on October 05 at $20.11
Swift Transport. - SWFT - cls: 25.66 chg: +0.67 stop: 23.88*new*
SWFT displayed a lot of relative strength today. The stock's 2.68% rally out performed the major indices and the Dow Jones transportation average. We couldn't find any specific news to account for today's strength but if you study the chart you'll notice that this is the second day in a row that traders bought the dip near $24.70. We would not suggest new positions at this time as the stock is butting up against likely resistance at the $26.00 level and its 200-dma. We are raising our stop loss to breakeven at $23.88. Our target is the $26.75-27.00 range.
Picked on October 03 at $23.88
Short Play Updates
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